2065 Locust Ave Long Beach, CA 90806
Southeast Wrigley Neighborhood
11
Beds
5
Baths
3,376
Sq Ft
7,481
Sq Ft Lot
Highlights
- Floor Furnace
- Long Beach Polytechnic High School Rated A
- 1-Story Property
About This Home
As of November 2020All Tenants are currently paying!
Perfect Owner Occupied opportunity! Renovated, Major Cash Cow 4-plex at 2065 Locust Ave., Long Beach. One of the highest available Cap Rates on the market, this South Wrigley asset is perfect for anyone looking for immediate cash flow and low maintenance.
On current rental income, the property operates at an incredible 5.39% Cap and 13.04 GRM. Locust Ave. has an incredibly strong unit mix, being comprised of (3) 2-bedroom/1-bath & (1) 5-bedroom/2-bath units. One 2 bedroom/1 bath unit can be delivered vacant at close of escrow. A very rare commodity in Long Beach, the property has (5) garages on site conveniently located for all tenants, as well as an opportunity for extra income for owners. Renovations to the property include granite counter tops, stainless steel appliances, new bathrooms/floors, and a full copper re-pipe. Locust was also re-stuccoed and has new interior/exterior paint. The property is also separately metered for gas and electric.
With $6B in development flowing into the city, Long Beach has continued to rise as a top beach community. This is a perfect opportunity for any buyer to own a cash flowing asset in one of Southern California’s last affordable beach communities.
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. License #02035763 Listed on: 07/21/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1940
Lot Details
- 7,481 Sq Ft Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Parking
- 5 Car Garage
Home Design
- Property Attached
Interior Spaces
- 3,376 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 11 Bedrooms
- 5 Bathrooms
Additional Features
- Urban Location
- Floor Furnace
Listing and Financial Details
- Legal Lot and Block 7 / B
- Assessor Parcel Number 7209018011
Community Details
Overview
- 4 Units
- Wrigley Area Subdivision
Building Details
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $25,100
- Gross Income $93,912
- Net Operating Income $65,995
Similar Homes in Long Beach, CA
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The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/09/2020 11/09/20 | Sold | $1,212,000 | -1.1% | $359 / Sq Ft |
| 10/26/2020 10/26/20 | Pending | -- | -- | -- |
| 09/15/2020 09/15/20 | Price Changed | $1,225,000 | -2.0% | $363 / Sq Ft |
| 07/21/2020 07/21/20 | For Sale | $1,250,000 | +32.0% | $370 / Sq Ft |
| 03/19/2018 03/19/18 | Sold | $947,000 | -0.3% | $281 / Sq Ft |
| 03/19/2018 03/19/18 | Pending | -- | -- | -- |
| 03/19/2018 03/19/18 | For Sale | $950,000 | +58.3% | $281 / Sq Ft |
| 12/04/2015 12/04/15 | Sold | $600,000 | -4.7% | $178 / Sq Ft |
| 08/13/2015 08/13/15 | Pending | -- | -- | -- |
| 03/18/2015 03/18/15 | For Sale | $629,900 | -- | $187 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Cameron Samimi
Seller's Agent in 2020
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
(310) 259-7556
3 in this area
176 Total Sales
-
Cody Charnell
Buyer's Agent in 2020
Cody Charnell
Sage Real Estate Group, Inc.
(310) 982-7055
2 in this area
51 Total Sales
-
Adolfo Paz
A
Seller's Agent in 2015
Adolfo Paz
Benefit Realty
(562) 346-3377
2 Total Sales
-
S
Buyer's Agent in 2015
Stephen Mercier
Benefit Realty
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB20144327
APN: 7209-018-011
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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